In spite of the rise in oilwhich is already around USD 110 per barrel and has grown by 44% so far this year, China continued to purchase Russian energy products over the past month. Specifically, purchases rose to $7.47 billion, about $1 billion more than in April and double the amount from a year ago.
Total imports of China since Russia they accelerated in May, increasing 80% year-on-year to 10.27 billion. Chinese demand has also started to show some improvement as virus restrictionswhich alleviated logistical imbalances and allowed industrial production to recover.
According to customs data, imports of Petroleum they increased 55% from the previous year to 8.42 million tons. Furthermore, it was revealed that Russia overtook Saudi Arabia as the world’s leading source of oil. China.
Sales of liquefied natural fuel from Russia rose 54% to 397,000 tonnes, despite a 28% decline in total supercooled fuel purchases from China.
As for the rest of the basic products traded between China Y Russia It is highlighted that total coal imports fell by 5.2% year-on-year to 4.73 million tons. Meanwhile, refined copper imports grew 15% to 31,267 tons and refined nickel imports fell almost 90% to just 300 tons, reaching a record low.
For its part, aluminum imports fell 21% to 32,713 tons, while those of palladium increased 19% to 769 kilos and those of wheat decreased 87% to 1,883 tons.